• Monday, July 15, 2024
businessday logo


FG has no plans to privatise TCN – Minister

FG earns N393bn revenue from NESI in H1, highest in 8yrs

Abubakar Aliyu, minister of power has confirmed that the Federal Government has no plans to privatise the Transmission Company of Nigeria (TCN), urging the public to disregard such rumours.

Aliyu confirmed this through his verified Twitter handle on Wednesday, lamenting that some media reports falsely claimed that the privatisation is going to take place in coming months.

He said, “These reports are untrue and are only mere misinformation aimed at spreading panic in the power sector, which is making progress towards ensuring that Nigerians enjoy uninterrupted power supply.

“The Federal Government of Nigeria has no intent to sell or privatise the TCN, and no one in the FG has made a statement of intent to sell TCN.”

According to Aliyu, TCN is a centrepiece in the Federal Government of Nigeria’s efforts to rejuvenate the power sector.

He said the power ministry was working with key stakeholders to evaluate, assess and upgrade TCN to make it more efficient and transparent, he said.

Read also: Nigeria’s failure to encourage investors hampering economic growth- NESG

The minister said, “As part of the repositioning of TCN, job opportunities are being created, as with the recently concluded ramp up of employment, contrary to claims that there is a plan for a mass disengagement of staff at TCN.

“The organisation has also been carrying out sustained capacity building by training and retraining of staff across all cadres for efficiency and service delivery.”

According to him, transmission is a vital segment of the electricity value chain that constantly needs significant investment.

He said the government will continue to maintain the transmission segment of the power value chain even though other segments have been privatised.

“The Federal Government is investing and supporting efforts to make TCN a world-class transmission service provider.

“The Federal Government under the leadership of President Muhammadu Buhari is focussing on upgrading, stabilising and modernising Nigeria’s power industry through various interventions, including the Nigeria-Siemens partnership under the Presidential Power Initiative (PPI),” Aliyu said.